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Marketing technologies of formation of competitive advantages of enterprises

Author

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  • Valentyna Morokhova
  • Оlga Boiko
  • Iryna Lorvi

Abstract

The article considers the use of marketing technologies in order to form a competitive advantage. The research of foreign and domestic scientists concerning the sources of competitive advantages is systematized. The requirements to be met by competitive advantages are generalized and a systematized list of characteristics through which the essence of competitive advantages is revealed is given. Competitive advantages should favorably distinguish the company from competitors, meet the needs of consumers, provide the company with a long-term competitive position in the market, be flexible and adapted to changes in today's business environment. It is proved that the means of achieving a competitive position of the enterprise in the market is the development of a competitive strategy based on the system of consumer values. The introduction of the principle of customer orientation and the creation of consumer value are identified as the main components of ensuring sustainable competitive advantages. In the current conditions of unstable market environment, the expediency of developing adaptive marketing strategies that allow companies to respond to changes in the market environment, minimize risks and maintain a competitive position is argued. The need to provide a systematic approach to the formation of strategies of individual elements of the marketing complex is emphasized. The directions of adaptive marketing management are allocated. Modern marketing technologies that can be used by enterprises in order to expand the target audience, increase sales and strengthen their market position are summarized. Their features are the focus on strategic development goals, integration with the overall management system of the enterprise, complexity, continuity and dynamism of implementation. The result of effective use of these technologies is the successful operation of enterprises in the market, the achievement of marketing and management goals

Suggested Citation

  • Valentyna Morokhova & Оlga Boiko & Iryna Lorvi, 2021. "Marketing technologies of formation of competitive advantages of enterprises," E-Forum Working Papers, Economic Forum, vol. 11(3), pages 87-93, August.
  • Handle: RePEc:cuc:eforum:v:11:y:2021:i:3:p:87-93
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